18955 Asbury Park · Detroit, MI 48235

$97,000

2 bd · 1.0 ba · 737 sqft · SingleFamily public records · 202 Days on market

Built 1938 3,920 sqft lot $132/sqft · 14% above area Est $85k · 14% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid brick home featuring 2 bedrooms, 1 full bath and full basement. Located in an attractive neighborhood near commercial corridors and major road access. Currently tenant-occupied under Section 8, generating $950/month. BATVAI.

Key facts

• 3,920 sq ft lot
• Built 1938
• Listed 202 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $85k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 283 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 35% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $671 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $97k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.70%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $85,352
• List price: $97,000
• Delta: 13.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18950 Biltmore St	0.08mi	2/1.0	781 (+6%)	1mo	$46,000	$59	85
19510 Ferguson St	0.43mi	2/1.0	717 (-3%)	3mo	$21,000	$29	73
19307 Fenmore St	0.49mi	2/1.0	725 (-2%)	3mo	$72,500	$100	72
19751 Oakfield St	0.57mi	2/1.0	735 (-0%)	1mo	$17,500	$24	72
19195 Fenmore St	0.47mi	2/1.0	720 (-2%)	8mo	$79,500	$110	68
17227 Curtis St	0.48mi	3/1.0 (+1)	717 (-3%)	2mo	$77,000	$107	66
19425 Fenmore St	0.56mi	2/1.0	720 (-2%)	8mo	$79,000	$110	63
19781 Oakfield St	0.59mi	2/1.0	752 (+2%)	8mo	$65,000	$86	63
19470 Forrer St	0.53mi	2/1.0	771 (+5%)	6mo	$27,000	$35	63
19913 Prevost St	0.65mi	2/1.0	716 (-3%)	4mo	$27,900	$39	62
18410 Forrer St	0.48mi	3/1.0 (+1)	689 (-6%)	2mo	$60,000	$87	60
19786 Oakfield St	0.58mi	3/1.0 (+1)	780 (+6%)	7mo	$80,000	$103	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,435
• Equity at exit: $14,463

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $18,001
• Equity at exit: $8,387

Cash invested: $27,160 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48235

• Rents YoY: 3.2%
• Active inventory: 283
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,129 high
• Mortgage (P&I): −$509
• Tax from tax record: −$124 /mo · $1,482/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $219

Break-even live

Break-even rent $851

Max offer price $97,000

Occupancy floor 76%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18276 Oakfield St Detroit, MI	2.0	1.0	726	$1,175	$1.62	43d	1	0.41mi
19736 Gilchrist St Detroit, MI	2.0	1.0	696	$995	$1.43	12d	1	0.51mi
20068 Faust Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	24d	1	1.05mi
20555 Motor Dr Detroit, MI	1.0–2.0	1.0	750	$1,222	$1.63	14d	5	1.08mi
20539 Southfield Rd Detroit, MI	1.0	1.0	700	$800	$1.14	10d	4	1.13mi
19372 Grandville Ave Detroit, MI	2.0	1.5	733	$1,050	$1.43	14d	1	1.16mi
18637 James Couzens Fwy Apt 103A Detroit, MI	1.0	1.0	630	$835	$1.33	1d	1	1.33mi
18637 James Couzens Fwy Unit C103 Detroit, MI	1.0	1.0	630	$835	$1.33	43d	1	1.33mi

Listing history 26 events

1. 2026-06-18
   days on market $97,000 Active 202 DOM
2. 2026-06-17
   days on market $97,000 Active 201 DOM
3. 2026-06-15
   days on market $97,000 Active 199 DOM
4. 2026-06-13
   days on market $97,000 Active 197 DOM
5. 2026-06-13
   days on market $97,000 Active 196 DOM
6. 2026-06-09
   days on market $97,000 Active 193 DOM
7. 2026-06-08
   days on market $97,000 Active 192 DOM
8. 2026-06-07
   days on market $97,000 Active 191 DOM
9. 2026-06-04
   days on market $97,000 Active 188 DOM
10. 2026-06-03
    days on market $97,000 Active 187 DOM
11. 2026-06-01
    days on market $97,000 Active 185 DOM
12. 2026-05-31
    days on market $97,000 Active 184 DOM
13. 2025-11-28
    listed $97,000 Active 230-char remark

    Show marketing remark (230 chars)

    Solid brick home featuring 2 bedrooms, 1 full bath and full basement. Located in an attractive neighborhood near commercial corridors and major road access. Currently tenant-occupied under Section 8, generating $950/month. BATVAI.

14. 2025-11-28
    listed $97,000 Active 230-char remark

    Show marketing remark (230 chars)

    Solid brick home featuring 2 bedrooms, 1 full bath and full basement. Located in an attractive neighborhood near commercial corridors and major road access. Currently tenant-occupied under Section 8, generating $950/month. BATVAI.

15. 2025-11-28
    listed $97,000 Active

    Show marketing remark (230 chars)

    Solid brick home featuring 2 bedrooms, 1 full bath and full basement. Located in an attractive neighborhood near commercial corridors and major road access. Currently tenant-occupied under Section 8, generating $950/month. BATVAI.

16. 2021-09-21
    soldstatus $60,000
17. 2015-10-09
    soldstatus $2,900 Sold
18. 2015-10-09
    soldstatus $2,900
19. 2015-10-03
    historical
20. 2015-10-02
    historical
21. 2015-09-16
    price $2,900
22. 2015-08-17
    listed $4,900 Active
23. 2015-08-15
    listed $2,900
24. 1996-10-30
    soldstatus $30,000
25. 1996-06-14
    listed $32,500
26. 1996-01-10
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,482 · $124/mo
• Projected year-2 tax: $1,488 · $124/mo
• Expected delta: +$6/yr ($0/mo · 0.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,551
• − Mortgage interest: −$5,434
• − Property taxes: −$1,482
• − Insurance: −$485
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$2,822
• Taxable income: $1,160
• Est. tax owed @ 24.0%: −$278
• After-tax cash flow: $2,355/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 3064.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+223.3% since first listed

14 events — show timeline

• 2025-11-28 Listed $97,000 REALCOMP
• 2025-11-28 Listed $97,000 MiRealSource-MiMLS
• 2025-11-28 Listed $97,000 SW Michigan MLS
• 2021-09-21 Sold (Public Records) $60,000 Public Records
• 2015-10-09 Sold (MLS) $2,900 MiRealSource-MiMLS
• 2015-10-09 Sold (MLS) $2,900 REALCOMP
• 2015-10-03 Listing Removed — REALCOMP
• 2015-10-02 Listing Removed — MiRealSource-MiMLS
• 2015-09-16 Price Changed $2,900 REALCOMP
• 2015-08-17 Listed $4,900 REALCOMP
• 2015-08-15 Listed $2,900 MiRealSource-MiMLS
• 1996-10-30 Sold (MLS) $30,000 REALCOMP
• 1996-06-14 Listed $32,500 REALCOMP
• 1996-01-10 Sold (Public Records) $30,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,482 · -9.4% YoY. Source: county tax records.